BUY-TO-LET INVESTORS SHOW CONFIDENCE IN ‘ONE ON HERRWOOD’ IN UMHLANGA
- 19 Aug 2010
The recently launched ‘One on Herrwood’ 92-unit, luxury development on prestigious Umhlanga Ridge just north of Durban is attracting buy-to-let investors – mainly locals, reports Elwyn Schenk, area principal for Pam Golding Properties.
“A very good indicator of the investment potential of any development is the confidence shown by local purchasers,” he says.
Just 42 apartments remain available at this well situated residential development, only minutes from Umhlanga village and the beach and within walking distance of Gateway Theatre of Shopping. The remaining units range from one to three bedroom apartments priced from R995 000 to R2.6 million as well as two three-bedroom, three bathroom penthouses priced at R5.5 million. VAT is included and there is no transfer duty.
Shenk says in addition to buy-to-let investors, some are purchasing for their own use or for the use of their older children, given the convenient location so close to Gateway as well as the 24-hour security in the complex, with CCTV coverage. There is lift access to all floors and one parking bay per unit is included in the selling price with extra parking available to purchase at extra cost.
All units in this 10-storey development have sweeping sea views and attention to the finest design details and standard of finishes. Adding to the luxurious feel of the development is a large reception area, beautiful rim flow swimming pool with inviting poolside entertainment areas.
Issued by Gaye de Villiers